City's favourite grocer set to hand over the reins
Article Abstract:
Tesco saw a drop in its share price followingthe announcement that the company's chairman, Ian McLaurin, will retire in 1997. He will be replaced by Terry Leahy, marketing director. McLaurin made Tesco more price competitive and geared it toward superstores. Leahy has also contributed to the company's strong performance with marketing initiatives. Tesco has increased its operating profit by a higher annual percentage than Sainsbury, its competitor, and is also likely to boost profitability to levels above those of Sainsbury.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Safeway
Article Abstract:
Safeway has seen a drop in its stock price and has a payout policy for stockholders that is overgenerous. The company is likely to see a rise in its borrowings to over 1 billion pounds sterling in 1999, while investment in safeway stores is to be reduced by 30% in 1999. Safeway faces competition in food retailing in the United Kingdom, and sales volumes could be raised, but this may mean a drop in profit margins. The company could become a bid target which would push up the stock price.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1999
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Add financial services to your shopping list
Article Abstract:
United Kingdom supermarkets are offering financial services through links with banks. Two supermarkets, Tesco and Sainsbury's, are setting up their own banking operations. Tesco has launched a telephone banking JV including a credit card and travel insurance, with Royal Bank of Scotland. Sainsbury is offering personal equity plans and endowment insurance with Standard Life. Safeway is also offering financial services including a debit account shopping card.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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